Can contributions to a 529 plan be directly deducted from pay?
2007-01-22 08:43:45 · 4 answers · asked by Yvonne M 2 in Business & Finance ➔ Personal Finance
You can set up a automatic deposit from your checking. The contributions are not pretax...and as far as I know don;t qualify for a deduction. Sites like troweprice.com let you set up an automatic asset builder and don;t charge a fee...usually a min of $50 a month and there are lots of options for investing.
You might also look into ESA's Education Savings Accounts
2007-01-22 11:10:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
yes up to about $200,000 for college expense. Some employers won't deduct directly and then you will only realize a savings at the time of filing your years taxes...sorry:)
2007-01-22 08:48:30 · answer #2 · answered by Rada S 5 · 0⤊ 0⤋
in basic terms ask this question with regards to the fund you're making an investment in: Do you think of it will be relatively worth greater in 12 years than its relatively worth today? If no longer, you have an exceedingly pessimistic outlook on our us of a's financial destiny. do no longer attempt to time the industry and purchase investments on the very backside, and don't enable a undergo industry scare you out of your investment plans.
2016-11-01 00:31:21 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Not unless your employer has something set up through a broker to do such. Chances are they do not. So you have to go through your own broker. You can go to any mutual fund company and set one up yourself, but you'll have to send in checks.
2007-01-22 08:46:50 · answer #4 · answered by jfahd 4 · 0⤊ 0⤋